Profile PictureEric K

Pay Rate Calculator 1

Eric K


Thank you for stopping by.
I made this tool here called "Gig Pay Calculator (Income Goal)".
It is a very simple, basic with powerful formula inside to help you figure out your Personal Minimum Acceptable Rate (PMAR).

What is this and how it works?
Alright, let's use my good friend, Joe Nobody is an independent food delivery worker as a use case.

Joe is looking to make $4,000.00 for the month of January.
He is planning on working 22 days out of 31 days.
He also wants to do 10 hours a day.

Now Joe enters all the above data into the spreadsheet (see image below).

Here is the result before tax:

Monthly pay ==> $4,000.00
Weekly pay ==> $1,000.00
Daily pay goal ==> $181.82
Minimum pay per hour ==> $18.18
Pay for 30 minutes ==> $9.09
Pay for 20 minutes ==> $6.06
Pay for 15 minutes ==> $4.55

Pay per minute ==> $0.30

Now our good friend Joe Nobody knows his Personal Minimum Acceptable Rate and he does not care if an offer has a tip, promotion, or other stuff.

Frequently Asked Questions

1) Who is this tool good for?
I believe this spreadsheet will be good for anyone that accepts an offer or make their own price or rate.

2) I do not know my target income, can you help?
I made another spreadsheet that uses all your monthly expenses, savings goals plus tax estimate, and other expenses to be used as your monthly income target.
Here is the link: Gig Pay Calculator (Income-Expenses Goal)

3) Are you sure I will make more money if I use your spreadsheet?
No, you will not make money! Because each person is different (education, skill, or personality), and the market and the type of opportunity you received on the daily basis.
Also, you can overestimate or underestimate your desired monthly income.

I am not a financial advisor or a CPA. This spreadsheet is for informational purposes only. Please consult a CPA before making any financial decisions.
You (and only you) are responsible for the financial decisions that you make.
Past performance is not necessarily indicative of future results.


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